Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

EURUSD and GBPUSD: EURUSD still slides below 1.11500

EURUSD and GBPUSD: EURUSD still slides below 1.11500

During the Asian trading session, EURUSD consolidated below the 1.11500 level.
During the Asian trading session, GBPUSD managed to recover to 1.29000 levels.

EURUSD chart analysis

During the Asian trading session, EURUSD consolidated below the 1.11500 level. Additional pressure is created by the EMA50 moving average. We have now encountered resistance in that zone and initiated a bearish impulse and pullback to the 1.11250 level. New pressure at that level could create a breakout below and push EURUSD even lower. Potential lower targets are 1.11000 and 1.10750 levels.

For a bullish option, we need positive consolidation and movement of EURSUD above 1.11500 and EMA50 moving average. Then, we need to keep up there in order to start further recovery with the next impulse. Potential higher targets are 1.11750 and 1.12000 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD managed to recover to 1.29000 levels. At that level, we encounter resistance and see a pullback to the 1.28500 level. It is possible that we will see a break below if the pressure on that level continues. This would lead to the formation of this week’s new low. Potential lower targets are 1.28000 and 1.27750 levels.

We need a positive consolidation and a return to the 1.29000 resistance level for a bullish option. Then, a break above is needed and an attempt to hold up there before continuing the recovery. Potential higher targets are 1.29500 and 1.30000 levels. We have additional resistance at the 1.2950 level and the EMA50 moving average, and if we were to skip it, it could strengthen the bullish option.

 

The post EURUSD and GBPUSD: EURUSD still slides below 1.11500 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com